Jim Cramer says Boeing Co. (NYSE:BA) is poised to rally further, arguing the stock can "go much higher" as the company’s free cash flow has improved enough to be a key driver for the next leg up.
Boeing’s Global Airline Deals Boost Momentum
- Boeing has secured new aircraft orders from Luxair, Uganda Airlines and MSC Air Cargo, extending its strong commercial aviation order momentum. These deals follow contracts with Philippine Airlines and Riyadh Air, highlighting Boeing’s success in the global airline market as of July 21.
Fleet Modernization Drives Boeing’s Growth
- Boeing’s recent success is further underscored by major orders for 787 Dreamliners and 737 MAX aircraft from Philippine Airlines, SMBC Aviation Capital and Riyadh Air. This surge in demand is part of a broader trend of fleet modernization, which Boeing expects to continue, projecting a $4.9 trillion commercial aviation services market over the next two decades.
Technical Analysis
Boeing is currently on a five-day winning streak, having added about $13.59 billion in market cap over the past week. The stock trades at $221.50, which is +1.14% above its 50-day simple moving average and +1.45% above its 200-day SMA, indicating a positive trend since the Golden Cross became active on June 1.
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